Commodities Buzz: Glencore Copper Output Projected To See 14% Drop In 2022

28 Oct 2022 , 02:59 PM

Global mining major Glencore projected that its Copper production from own sources is estimated at 770.5 thousand tonnes in 2022, down around 14% compared to 895 thousand tonnes in 2021. The company noted that operational performance over the third quarter was impacted by a range of events including extreme weather in Australia, industrial action at nickel assets in Canada and Norway (since resolved) and the emergence of significant supply chain issues in Kazakhstan stemming from the Russia/Ukraine war. Full-year 2022 production guidance has, accordingly, been reduced for those affected commodities. It also projected a 18% drop in the output of Zinc and 21% fall in the production of Lead in 2022 over 2021.Powered by Commodity Insights